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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Re: Oil Sands Only estimate for 2010 using 9000 bbl/d from GD

Dec 18, 2009 01:21PM

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Dec 22, 2009 02:37AM
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Dec 22, 2009 05:10AM

Hi Jurek

I thought you would respond on that item.

So is the company in such a tricky envirioment that they have not much left if something goes wrong?

What have you in mind as a bitumen price they can cope with and where they can survive without coming back to the shareholders?

Is the sitiuation compared to previous year before they did the financing for Algar then so tricky ?

Of course we are only talking about the SAGD and not the rest?Are you hopefull for MRC and the rest or not ?Can they contribute on the positive next year?

I guess the sp is now driven on a situation they are hoping to see no clouds coming up again?If they should come back to the shareholders that means agaiin dillution with result pressure on the sp again and back down.

Like previous year DG hasn't given any comment on how he sees the financing for the rest for expansion.The only I remenber that he promissed no more dillution when they has started up POD 1.The situation however showed another picture.

Maybe that's why they don't put any chart around eps etc.. on their website like they did before.They can predict for a target to 50.000 bpd by 2015 but how they gonna do it would be nice to hear.

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